May 2021 - Silver - 17.03.2021
Are Silver forming a corrective pattern?
1. Fundamentals
Market seems to wait news comes from FED's meeting.
But, ETF's holding Silver as well as disappointing US Reading (i.e: US industrial production/capacity utilization); i think, US dollar will be lower and it pushes silver higher.
2. Technical.
Silver are currently in corrective pattern as i draw in my pic.
25.45 - 25.70 is a support zone. I think, this is a potential reverse. Traders could wait actions happen in this zone.
In my opinion, i think, silver will climb higher and reach 27.05 in coming days.
1. Fundamentals
Market seems to wait news comes from FED's meeting.
But, ETF's holding Silver as well as disappointing US Reading (i.e: US industrial production/capacity utilization); i think, US dollar will be lower and it pushes silver higher.
2. Technical.
Silver are currently in corrective pattern as i draw in my pic.
25.45 - 25.70 is a support zone. I think, this is a potential reverse. Traders could wait actions happen in this zone.
In my opinion, i think, silver will climb higher and reach 27.05 in coming days.
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